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GameStop Doubles Down: $2.25B Bitcoin-Backed Convertible Bond Play Shakes Markets
GameStop Doubles Down: $2.25B Bitcoin-Backed Convertible Bond Play Shakes Markets
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GameStop just upped the ante—way up. The meme-stock-turned-crypto-treasury-player is now slinging $2.25 billion in convertible bonds, a move that’s got Wall Street scratching heads and crypto degens high-fiving.
Why it matters: When a company holding Bitcoin reserves makes a power play like this, it’s either genius leverage or a Hail Mary. Spoiler: analysts can’t decide which.
The fine print: These bonds can convert to equity—meaning if Bitcoin moons, holders win twice. If it tanks? Well, there’s always the next meme cycle.
Cynical take: Nothing says ‘financial strategy’ like doubling down during peak volatility. But hey—at least they didn’t spend it all on ape JPEGs this time.
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